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Sunday, January 6, 2013

Dutyfree International - daily share buy back

Dutyfree International has been doing share buy back for the past month, and its traded price has been increasing steadily over the same period of time.

Chart for past 1 year:

Increasing price with increasing volume.

Share buy back breakdown:

Date of
purchase

no. of shares

average price

TOTAL VALUE

04/01/2013

850,000

0.40471

344003.5

03/01/2013

350,000

0.39714

138999

02/01/2013

550,000

0.39

214500

28/12/2012

700,000

0.38964

272748

27/12/2012

500,000

0.38748

193740

26/12/2012

462,000

0.38

175560

21/12/2012

220,000

0.375

82500

19/12/2012

100,000

0.35

35000

18/12/2012

200,000

0.35

70000

14/12/2012

20,000

0.33

6600

13/12/2012

156,000

0.32821

51200.76

12/12/2012

150,000

0.325

48750

TOTAL

4,258,000

0.383655

1633601.26

Based on the current trends, there seem to be an increasing share buy back price. The increase in volume is due to the daily share buy backs. On last Friday, there was a buy back of 850k shares, which is higher than its typical daily share buy back. The volume also represent more than 50% of the traded volume (1.4M) on that day.

There seems to be some upside on this. I have entered a small position at 0.405 in this counter on Friday earlier.